7735 Marsha Sharp Fwy Lubbock, TX 79424
- Retail properties
- 4,126 SF
- 1.02 lot acres
Current Use by Public Records
- Retail properties
Property Details for 7735 Marsha Sharp Fwy
- Year built
- 2024
- Lot size
- 1.02 lot acres
- Property size
- 4,126 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a brand-new, 4,126-square-foot IHOP restaurant in Lubbock, Texas, operating under a 20-year absolute triple-net (NNN) lease. The property boasts a strong 5.30% cap rate and a substantial annual net operating income (NOI) of $210,000. Situated on a 1.02-acre lot at 7735 Marsha Sharp Fwy W, this location benefits from high visibility and accessibility, with close proximity to US 62 (25,418 cars per day). The lease includes a 10% rent increase every five years, providing significant long-term growth potential, and features multiple 5-year renewal options. Built in 2024, this single-tenant property is 100% occupied by a top IHOP franchisee with a proven track record (118 locations). The property is part of the future Covenant Park development, a 72-acre mixed-use project. The surrounding area demonstrates strong demographics, with average household incomes exceeding $123,000 within a 3-mile radius. This is a rare opportunity to acquire a high-performing, low-maintenance investment in a thriving Texas market. The asking price is $3,962,000, representing a price per square foot of $960.25. The property is located within a 15-minute drive of downtown Lubbock, a city with an estimated 329,000 residents and a robust economy driven by education, healthcare, oil, and cotton production.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.987
- Latitude
- 33.5243
